Regardless of the size of your business there can be advantages to registering for VAT early. There are various schemes that can be utilised to ensure the VAT process assists your business and does not become a burden on your cash flow.
At Lima Accountancy,
we work with you in selecting and registering, if appropriate, the correct scheme for you. Our preparation of the required returns ensures you are making the correct disclosures to HMRC, and that they are on time.
Lima can help you minimise your corporation tax payments and relieve you of the administrative burden of complying with tax legislation. We will deal with all business tax matters, including corporation tax computations and associated capital allowance schedules through to preparing and submitting your corporation tax return.
In the past the government have seemed keen to encourage small businesses to incorporate as companies and consequently tax incentives have been offered to limited companies. Companies are subject to corporation tax but their directors are still required to complete self assessment returns and are also likely to be operating a PAYE scheme.